CHICAGO (WBBM NEWSRADIO) - The push continues to create more affordable housing in the United States, including in Chicago.
The Affordable Housing Credit Improvement Act of 2023 was introduced in the U.S. House in May by Illinois Congressman Darin LaHood.
Ayrianne Parks is senior director of policy at Enterprise Community Partners, a national nonprofit that advocates for affordable housing.
“We’ve estimated it [the bill] could provide an additional 2 million affordable rental homes over the next 10 years, and, in Illinois, it would add up to additional 56,700 more affordable rental homes than what’s already currently being produced through the housing credit,” Parks said.
As recently reported by Crain's Chicago Business, six Chicago-area mayors, including Chicago's Brandon Johnson, and DuPage County leaders are urging Congress to pass the legislation to enhance that tax credit.
“There are more than 426,000 renter households that are paying over half of their monthly income on rent, which in technical terms means that they are severely rent-burdened,” Parks said.
Affordable housing means everything, stressed Parks.
“It really is a foundation for economic mobility, for success, for both families and individuals, but also for communities and our neighborhoods,” said Parks.
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